Ashland (NYSE:ASH) Sets New 12-Month Low – Here’s Why

Ashland Inc. (NYSE:ASH)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $54.86 and last traded at $55.94, with a volume of 437276 shares. The stock had previously closed at $56.33.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ASH. StockNews.com cut Ashland from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on Ashland from $81.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group dropped their price objective on Ashland from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Seaport Res Ptn cut Ashland from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets upped their target price on Ashland from $83.00 to $84.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.00.

Ashland Stock Performance

The business has a fifty day simple moving average of $64.53 and a two-hundred day simple moving average of $75.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.52 and a quick ratio of 1.27. The company has a market cap of $2.64 billion, a PE ratio of -84.75, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89.

Ashland (NYSE:ASH) last issued its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.51). Ashland had a negative net margin of 1.12% and a positive return on equity of 7.41%. During the same period in the previous year, the business posted $0.45 EPS. Research analysts anticipate that Ashland Inc. will post 4.27 earnings per share for the current year.

Ashland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.62 annualized dividend and a dividend yield of 2.90%. Ashland’s dividend payout ratio is presently -245.45%.

Insider Activity

In other Ashland news, CEO Guillermo Novo acquired 31,294 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $64.24 per share, for a total transaction of $2,010,326.56. Following the acquisition, the chief executive officer now owns 31,294 shares in the company, valued at approximately $2,010,326.56. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Ashland

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. grew its position in Ashland by 5.5% during the 3rd quarter. Raymond James Trust N.A. now owns 3,104 shares of the basic materials company’s stock worth $270,000 after purchasing an additional 163 shares during the period. Integrated Wealth Concepts LLC grew its position in Ashland by 6.2% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,590 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 211 shares during the period. Boothbay Fund Management LLC grew its position in Ashland by 5.7% during the 4th quarter. Boothbay Fund Management LLC now owns 5,225 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 284 shares during the period. Xponance Inc. grew its position in Ashland by 5.7% during the 4th quarter. Xponance Inc. now owns 5,613 shares of the basic materials company’s stock worth $401,000 after purchasing an additional 301 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Ashland by 10.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,292 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 93.95% of the company’s stock.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.